Unigestion latest manager to absorb Mifid II research costs
Unigestion is the latest fund manager to announce it will be sparing clients the burden of assuming the cost of external investment research to comply with new Mifid II guidance.
Companies
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Omnis Investments hits £5bn AUM milestone
Omnis Investments has hit £5bn in assets three years on from the launch of its range of 10 funds.
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Nucleus pays out first dividend as assets hit £11.4bn
Nucleus has announced that it has paid its first dividend to shareholders off the back of “another successful year of profitable growth”.
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SEI Wealth reports £6.2bn increase in assets
SEI Wealth increased its assets under administration by £6.2bn in the first six months of the year, a 20% increase for the private banking firm.
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WPP’s shares tank as it slashes growth forecast again
Markets reacted violently to WPP’s slashed growth forecast, sending its shares nosediving 12% to £14.06p per share Wednesday morning.
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Tesco opens £85m compensation scheme
Tesco has officially opened its compensation scheme to shareholders who were affected by its group profit overstatement in 2014.
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BHP returns to profit as Persimmon ‘sitting pretty’
Both BHP Billiton and Persimmon impressed shareholders with their latest trading updates, the miner returning to an annual profit and agreeing to ditch its US shale operation and the UK builder posting double digit revenue growth.
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UPDATE: Woodford responds after £1.5bn wiped from shares of Provident Financial
Neil Woodford stood by his significant holding in Provident Financial on Tuesday even after its shares collapsed, wiping more than £1.5bn off its market cap.
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Rathbones confirms Smith & Williamson merger plan
Rathbones has confirmed it is currently in exclusive discussions with Smith & Williamson regarding a possible merger of the two groups.
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Woodford and Barnett favourite Allied Minds’ losses widen
The Boston-based intellectual property (IP) firm Allied Minds, a favourite of Neil Woodford and Invesco Perpertual’s Mark Barnett, reported higher losses over the first six months of the year.
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Prudential sells off US broker network days after M&G merger
Prudential has sold its US independent broker-dealer network to focus on local retirement products just days after announcing plans to merge its UK insurance and asset management businesses.
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Whitechurch returns to commercial property
Whitechurch Securities has reversed its view on commercial property after swiftly abandoning the asset class last year on the back of concerns over valuations and Brexit.
